Shenandoah Valley Organic Raises $15 Million in New Funding to Drive Continued Growth
EFFINGHAM, IL, December 18, 2019 – Shenandoah Valley Organic (SVO) announced it closed a $15 million funding round led by NRV, with participation from Open Prairie, as well as existing investors S2G Ventures and Middleland Capital’s VTC Innovation Fund.
Founded in 2014 by CEO Corwin Heatwole, SVO produces the Farmer Focus™ brand, a mission-based, values-driven organic meat brand that provides best in class traceability. A sixth-generation farmer himself, Heatwole revolutionized the industry by creating sustainable, innovative partnerships between SVO and family farms that allows farmers to retain ownership and grow profitability while also providing traceable, organic meat.
“We are pleased to add investors and advisors to the SVO team who share in our vision and mission and offer deep expertise across the retail and supply chain,” explained Heatwole. “This investment will enable SVO to continue expanding our retail footprint and Farmer Focus™ brand offerings.” The company intends to use the funds for investments in plant modernization to increase throughput volumes, as well as expanded marketing and brand outreach focused on growing Farmer Focus™ fresh and value-add product sales in leading grocery stores and retail locations throughout the United States.
“Shenandoah Valley Organic is an incredible growth story out of Harrisonburg, VA, and NRV is excited to be part of their future as they continue to expand the Farmer Focus™ organic meat brand. Their best-in-class traceability links products on the shelf back to the specific family farm that sourced them, providing transparency along with a high-quality, clean-label, organic product", said Laura Markley, Managing Director at NRV. NRV is a Richmond, VA-based venture capital firm that invests in early stage, high growth companies led by exceptional teams.
Open Prairie joined the round through the Open Prairie Rural Opportunities Fund, a growth-stage private equity fund dedicated to providing capital to agribusiness companies throughout rural America. Open Prairie partner Jason Wrone stated, “SVO truly embodies the spirit of rural America and is well positioned for explosive growth. The Farmer Focus™ brand personifies the company’s emphasis on developing and maintaining strong relationships with its growers and preserving smaller, independent family farms while also implementing innovative technologies to produce high-quality products for today’s health and environmentally-conscious consumers.”
About Shenandoah Valley Organic
Shenandoah Valley Organic (SVO) was founded in 2014 by Corwin Heatwole, a life-long farmer who wanted to revolutionize his industry by creating a process that ensures farms are sustainable and profitable for the next generation. Headquartered in Harrisonburg, VA, SVO is an organic meat company that prides itself on treating farmers with dignity and respect, as well as having the highest standards for raising animals. Through the Farmer Focus Business Model, farmers are true partners: they receive fair compensation for their hard work and have the freedom to make decisions for their own businesses. SVO’s deep commitment to farmers, animals, and environmental stewardship results in high-quality, clean label, organic products—ensuring a healthy source of nutrition through the most humane, clean, and safe processes possible. Learn more at www.farmerfocus.com
About Open Prairie
Open Prairie, based in the heartland of America with headquarters in Effingham, Illinois, is a multi-faceted private equity fund management firm with deep roots in rural America. Founded in 1997, Open Prairie has consistently focused on facilitating capital accessibility in underserved markets. The Open Prairie team has managed funds ranging from technology-based venture capital and private equity to farmland portfolios. Through its expertise across all functional business disciplines and an extensive network of professionals, Open Prairie works in partnership with its portfolio companies to accelerate growth while providing top-tier returns to its investors. For more information about Open Prairie, please visit www.openprairie.com.
About the Open Prairie Rural Opportunities Fund
The Open Prairie Rural Opportunities Fund is an $81 million private equity fund licensed by the US Department of Agriculture (USDA) as a Rural Business Investment Company (RBIC). With a collaborative partnership comprised of investors from Farm Credit institutions, commercial and community banks, strategics, family offices and high net worth individuals committed to advancing rural America, the Open Prairie Rural Opportunities Fund is focused on providing debt and equity capital of $2 - $10 million to growth companies in food and agriculture. For more information on the Open Prairie Rural Opportunities Fund, please visit www.openprairie.com.
Contacts
Open Prairie
Jason Wrone – +1.217.347.5430
jason@openprairie.com